Insider Selling: Enlight Renewable Energy (NASDAQ:ENLT) Insider Sells 6,402 Shares of Stock

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) insider Marko Liposcak sold 6,402 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $92.53, for a total transaction of $592,377.06. Following the completion of the sale, the insider owned 32,539 shares in the company, valued at $3,010,833.67. This represents a 16.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Enlight Renewable Energy Price Performance

Shares of NASDAQ ENLT opened at $91.30 on Wednesday. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 212.33, a PEG ratio of 27.30 and a beta of 1.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77. Enlight Renewable Energy Ltd. has a fifty-two week low of $16.87 and a fifty-two week high of $96.00. The firm’s 50-day simple moving average is $77.74 and its 200 day simple moving average is $58.46.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The firm had revenue of $156.49 million during the quarter. As a group, research analysts anticipate that Enlight Renewable Energy Ltd. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. Mizuho set a $37.00 target price on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. Finally, UBS Group upped their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.17.

Institutional Investors Weigh In On Enlight Renewable Energy

Large investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Enlight Renewable Energy by 18.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 11,688,077 shares of the company’s stock worth $774,113,000 after purchasing an additional 1,797,936 shares during the period. SEB Asset Management AB bought a new position in Enlight Renewable Energy during the first quarter valued at about $438,000. Swiss National Bank increased its holdings in Enlight Renewable Energy by 1.3% during the first quarter. Swiss National Bank now owns 264,220 shares of the company’s stock worth $17,477,000 after buying an additional 3,273 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in Enlight Renewable Energy in the first quarter worth about $2,397,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Enlight Renewable Energy in the first quarter worth about $533,000. 38.89% of the stock is owned by hedge funds and other institutional investors.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.